Bootstrapping, or in other words self-funding your business is the way most startups launch. If you have the necessary resources to execute your startup plan and a capital pool that can sustain you from getting drained out, then nothing can be better than a bootstrapped startup as you will enjoy complete creative and business freedom over your startup. No taking approvals for making business calls or making startup pivots. The go-to-market time is the shortest because once the founders decide; the next step is just executing it instead of convincing your board or investors.
The downside (or rather caution) is that the oxygen to this business is your personal finance. Unless you have a large pool of money, there are two ways to self-fund a bootstrapping business:
Take up service orders: We have discussed this in detail two weeks back. If you start as offering services for other businesses, you will be getting money in your startup account to fund your product initiatives.
Make a cash flow…